Cobalt, palladium and platinum for new technologies
The new technology is based on a cobalt-based catalytic converter that is designed to offer twice the range at half the price. The fuel consists of 60 percent water, which is converted into hydrogen and then into electricity. The spent fuel is recovered, replenished with water and hydrogen and recycled for reuse. The fuel is based on boron, a chemical element.
The energy density of this system should be extremely high. Emission-free driving should score here. The first commercial plants are expected to work with it as early as 2021. The decisive raw material is cobalt, which is indispensable for the growing market of electric vehicles. Above all cobalt, which does not come from the Congo or China, is in demand.
This is what First Cobalt wants to deliver - https://www.commodity-tv.net/c/search_adv/?v=298726. The company's Iron Creek cobalt project is located in Idaho, USA. In addition to this flagship project, First Cobalt owns the only approved cobalt refinery in North America and 50 former mines in the Canadian cobalt camp.
Platinum is used in the chemical and electronics industries and in fuel cells, i.e. just like cobalt, in the automotive industry,
is used. The increasing number of fuel cell vehicles should further fuel the demand for platinum, as no sharp slump in sales of combustion engines is to be expected in the foreseeable future.
Palladium has similar chemical properties and therefore similar applications. The price of this metal has already risen significantly in 2019, by around 14 percent. Sibanye-Stillwater - https://www.commodity-tv.net/c/search_adv/?v=298805 - is one of the largest companies in the group of platinum and palladium producers. The projects are located in the USA and South Africa.
Current corporate information and press releases from First Cobalt (https://www.resource-capital.ch/en/companies/first-cobalt-corp.html) and Sibanye-Stillwater (https://www.resource-capital.ch/en/companies/sibanye-stillwater-ltd.html).
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